Financial Daily from THE HINDU group of publications
Wednesday, Jan 05, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jan 05, 2005 |
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Industry & Economy
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Cement Cement dispatches rise in December Our Bureau
Mumbai , Jan. 4 FOUR cement majors have reported increased dispatches for December 2004 compared with dispatches in December 2003. With analysts and stockists expecting cement prices to increase by about Rs 10 a bag (of 50 kg) during the first week of the new year, the cement majors appear to be on the threshold of good times. This is generally an expected increase in the beginning of every calendar year, according to a senior analyst with a stock broking firm. One of the major dampeners for the cement industry has been the southern market, which now might just look up what with reconstruction activity expected to take place on a large scale following the tsunami tragedy. But while Associated Cement Companies (ACC) and Gujarat Ambuja have reported a substantial increase in dispatches for the month of December, Grasim Cement and Ultratech Cement have reported only modest percentage increase in domestic shipments. ACC reported a 14 per cent increase in dispatches for December, at 13.48 lakh tonnes; the company reported dispatches of 11.79 lakh tonnes in December 2003. Production at ACC rose 13 per cent for the month, to 13.53 lakh tonnes, up from 11.97 lakh tonnes. Gujarat Ambuja reported an 11 per cent increase in dispatches, which were at 12.54 lakh tonnes (11.23 lakh tonnes). Production at the company grew 14 per cent, to 12.63 lakh tonnes (11.07 lakh tonnes). Domestic cement dispatches at Grasim moved up 2.95 per cent to 11.41 lakh tonnes (11.08 lakh tonnes); production moved up 3.06 per cent, to 11.23 lakh tonnes (10.89 lakh tonnes). At Ultratech Cement, production for December rose 2.47 per cent, to 11.84 lakh tones (11.56 lakh tonnes). Domestic dispatches rose 4.73 per cent, to 10.94 lakh tonnes (10.45 lakh tonnes) Exports of cement and clinker combined are lower by 15.35 per cent, at 3.37 lakh tonnes, as against 3.96 lakh tonnes.
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